Author Topic: which car to sell  (Read 1081 times)

heartygrain

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which car to sell
« on: July 27, 2014, 03:00:01 PM »
I currently have two cars.
-02 CR-V (150K) which I bought new and maintained well, paid for many years ago
-04 Lexus LS 430 (100K) which I owe 10 grand on at 1.75% which has 100K and great service history

I commute 60 miles a day in heavy traffic, which is what attracted me the LS.  Last year I garaged the LS all winter and ran the CR-V as we live in a snowy area.  Currently have the LS on the road.  I don't pay to insure both all year, only one is on the road at a time.  The loan on the LS requires collision though at almost 500 annually.  I have been looking at my expenses after discovering this site and if I ditch the LS and just drive the CR-V (broken AC, the achilles heel of the CR-V) I could save that 10 grand plus the 500 for collision annually, and another 750 annually on gas.  So this would be 16k in my pocket over the next 4 years that I could invest.  However, the LS is a joy to drive and they have legendary reliability and low maintenance requirements.  I can see myself driving it for the next ten years. I think if I started driving the CR-V full time it would make it 4 years but then I would probably have to think about the next car, which would likely be a used civic or similar.  What would you do?

frugaliknowit

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Re: which car to sell
« Reply #1 on: July 27, 2014, 05:00:45 PM »
I would get rid of the Lexus, see about fixing the a/c on the CRV, consider selling the CRV as well and buying whatever used Civic or similar would be comfortable financially (no loans).  Two cars (especially neither of which gets great mileage) is not a great use of personal capital.  I would also explore a shorter commute.

heartygrain

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Re: which car to sell
« Reply #2 on: July 27, 2014, 06:22:13 PM »
Thank you for your thoughts.  It's about $3K to fix the AC on that gen CRV because when they suffer this affliction every single component must be replaced... compressor, lines, drier, condenser, etc.  Not really worth it.  The commute is a tougher call as I have a relatively easy job at an expensive private college that pays me well and it's very possible my two kids could go to school there tuition free, but that would require me staying there 14 more years.  It would be hard walk away from the job, though, given the level effort put in for the pay I receive.  It's easy money and there is some work from home.  Real estate in that area costs twice what it does where I live 30 miles away.  I also love where I live.